SLOVENIA: S&P revises outlook on SID Bank to positive, affirms A/A-1 ratings
Standard & Poor's said it has revised its outlook on Slovenia-based SID Bank (Slovene Export and Development Bank) to positive from stable, while affirming the bank's 'A/A-1' long- and short-term issuer credit ratings.
The outlook revision follows S&P's outlook revision on Slovenia, on December 16, to positive based on robust economic growth. S&P also affirmed Slovenia's A/A-1 long- and short-term sovereign credit ratings.
"We equalize our ratings on SID Bank with those on Slovenia because we consider that there is an almost certain likelihood of extraordinary government support for SID Bank in the event of financial distress", S&P said in a statement late on Tuesday. Read the full story